Table 3.
Regime switching probabilities for the selected metals in spot and futures markets
| Spot markets | Futures markets | |||||||
|---|---|---|---|---|---|---|---|---|
| Gold | Silver | Platinum | Palladium | Gold | Silver | Platinum | Palladium | |
| P11 | 93.5 | 89.1 | 86.9 | 63.7 | 56.4 | 96.5 | 83.3 | 29.1 |
| P22 | 6.5 | 10.9 | 13.1 | 26.3 | 43.6 | 3.5 | 16.7 | 60.9 |